28 February 2011 07:58 [Source: ICIS news]
SINGAPORE (ICIS)--South Korean producer Yeochun NCC (YNCC) restarted its 857,000 tonne/year No 1 cracker in Yeosu over the weekend, with the facility currently running at a low rate of 40%, said a company source on Monday.
“There is some trouble with six of the 12 furnaces so we cannot increase the operating rate,” he said, adding that full operations could resume by 13-14 March at the earliest.
The cracker was restarted on 27 February after a power failure shut it down on 22 February.
The company had suspended ethylene term exports to traders for the months of February-April and would be reducing supplies to sister company Hanwha Chemical’s vinyls complex in Ningbo, China, the source said. He did not provide further details.
A planned turnaround at the No 1 cracker would still take place as scheduled from 5 April to 4 May, he said.
YNCC also operates two other crackers at the same site. The 578,000 tonne/year No 2 cracker and the 465,000 tonne/year No 3 cracker were running at 100%, the source added.
Tight ethylene supply in northeast Asia kept selling ideas at above $1,400/tonne (€1,022/tonne) CFR (cost and freight) northeast Asia on Monday, market sources said.
($1 = €0.73)
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